Ratings

The group has a contractual relationship with both Moody's Investors Service (Moody's) and Standard & Poor's Ratings Services (S&P) for the provision of rating information.

Management of the group meets these agencies at least annually and shares with them the group's latest financial projections and business plan assumptions.

Senior unsecured debt obligations of the issuers are rated as follows:

	Moody's	Standard & Poor's
United Utilities PLC	Baa1/ P2 / stable	BBB- / stable / A3
United Utilities Water PLC	A3 / P2 / stable	BBB+ / stable / A2

For more information contact :

Phil Aspin - Group treasurer
T:+44 1925 237 136
F:+44 (20) 3070 0012